Fuel mix comes up thru the bearing and creeps up the crankshaft. The slinger throws it off into a groove where it gets sucked back into the motor thru a small passage in the front crankcase half.
A new oil wick comes with each set of OMC / BRP points. If you are doing a tune up and you get new points (OMC) you will get a new wick and have a second one for a spare.
-Ben